Biz Town Financial Literacy Quiz

"Goods" are ________

In banking terms, your account balance means ....

People save money for their long term needs including _____ (choose the best answer)

When you are investing your money, you want a high interest rate.

The check that you receive from your employer for the work that you do is called a _______ check.

When you bounce a check you did not have enough money in your account. If this happens you can .... (choose best answer)

A CD or certificate of deposit is a type of savings that pays you a fixed interest rate over a certain period of time.

Debit cards are different from credit cards because debit card purchases are paid directly from your account.

ATM stands for _______ _______ _______

A credit union is like a bank but different because it is not-for-profit and it is owned by its members.

Your ____ rating (or FICO score) improves when you pay your bills on time and goes down when you do not.

A "savings & loan" is like a bank but it focuses on real estate loans (to buy houses). They are backed by the government

How can you pay for goods & services? (choose ALL that apply)

When you take your money OUT of the bank it is called ______

When you use your computer or phone to make banking transactions it is called ________ or electronic banking.

When you put money INTO you bank account (add money) it is called a ________

A bank account for long term needs like a new car, house, college, or retirement is called a _____

In economic terms, "services" are ________.

You can store valuable items and important papers at the bank in a _________

When a store, factory, or other business borrows money from a bank it is called a ________ loan

When you are borrowing money from a bank you want a high interest rate.

_______ _______ means interest on interest. It is good if you are saving because your money grows faster.

To deposit a check you need to ________ it on the back.

Financial Literacy means ...

When you borrow money from the bank it is called a personal ______